One again, time will tell…but this looks like yet another Foreign Policy Homerun for the Kenyan Muslim Usurper

WASHINGTON –  North Korea raised hopes Wednesday for a major easing in nuclear tensions under its youthful new leader, agreeing to suspend uranium enrichment at a key facility and refrain from missile and nuclear tests in exchange for a mountain of critically needed U.S. food aid.

It was only a preliminary step but a necessary one to restart broader six-nation negotiations that would lay down terms for what the North could get in return for abandoning its nuclear weapons program. Pyongyang pulled out of those talks in 2009 and seemingly has viewed the nuclear program as key to the survival of its dynastic, communist regime, now entering its third generation.

via North Korea Says It Will Halt Nuclear Activities | Fox News.

The agreement, as per, includes the verification step so necessary to make this stuff happen.

It also opened the way for international nuclear inspections after years when the North’s program went unmonitored.

Secretary of State Hillary Rodham Clinton said the agreement, which was announced at separate but simultaneous statements by the long-time adversaries, was a modest step but also “a reminder that the world is transforming around us.”

“We, of course, will be watching closely and judging North Korea’s new leaders by their actions,” Clinton told a congressional hearing.

I’m all for giving the new kid a chance to be decent and get NK back to being part of the human race.

Fed does its job…read the comments and weep

The Fed just finished selling all of them, and their return on investment isn’t too shabby. The sales of the $19.5 billion portfolio turned a $2.8 billion profit for taxpayers.

“The completion of the sale of the Maiden Lane II portfolio has resulted in significant gains for the public and marks an important milestone in the wind-down of the extraordinary interventions necessitated by the financial crisis,” William Dudley, president of the New York Fed, said in a statement.

The article goes on to mention this wasn’t the really toxic asset pool, and we’ll likely take a bath on that…but reading the comments on that article…I really think less than 1% of the country could explain what the Fed does or how it works.  The RON PAUL idiocy and confidence brigade is in full effect on any Fed story…and none of them even deign to read the stories themselves…they just read the word ‘Fed’ and start ranting.

Fed turns $2.8 billion profit on AIG bonds – Feb. 28, 2012
http://money.cnn.com/2012/02/28/news/economy/fed_maiden_lane_aig/?npt=NP1